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Process to Change Name of LLP

 

The reason for a change of name of the LLP can be many, such as new branding plan, mergers and amalgamation, a shift in business activity etc.; However, the procedure shall be adopted similarly in all cases. The LLP Act, 2008 and the rules made thereunder have laid down a clear & non-ambiguous method to change the name of an LLP. As the name of the LLP is also mentioned on the LLP agreement, Pan card, Tan Number, GST Registration, etc.; after its change, the same must also be altered.

Change in Partners of LLP

  1. Original Share Certificate of share to be transferred
  2. List of Documents for Change of LLP Name
  3. Current Certificate of Incorporation
  4. LLP Agreement in word format
  5. List of Designated Partner & Partners
  6. Proposed Name(s) in order of preference.
  7. Digital Signature of the authorised DP
  8. Letterheads (approx 10) and rubber stamp of Partner

Stepwise Procedure to change name of an LLP is as under

Step - 1: Obtain approval of the partners for change of name

Obtain approval of the partners for change of name

To decide on the new name of the LLP, the partners need to decide in a properly convened meeting as per the LLP agreement. After the decision has arrived the same must be written and signed by the partners.

Step - 2: Name Availability Application for change of name to ROC

Name Availability Application for change of name to ROC

Once the partners decided on the new name of the LLP, a request for its reservation in Form -1 is made to the ROC. The new name can be approved by ROC only if it is unique and not same or similar to an already existing company, LLP, Domain or a Trademark.

Step - 3: Application for Name Change of the LLP

Application for Name Change of the LLP

The application to change the name of the company is filed to the ROC in Form No-4 along with altered LLP agreement. The changed LLP agreement need to be filed on form No-3. After the satisfaction of ROC, a fresh Certificate of Incorporation is issued having the new name of the company.

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Step 1. Obtain Board of Directors Approval for change of object

To decide on the new object or amendment in the existing object clause of the company the directors must meet in a legally convened board meeting. The notice sent to directors must contain the agenda of the meeting, and we suggest to include the proposed resolution so that the directors come prepared. We strongly recommend following the standards prescribed by ICSI in SS-1 for board meetings.

Who can be a Sole Proprietor?

A sole proprietor is the absolute owner of a Sole Proprietorship Business. Any person who is above 18 years of age and who is otherwise capable of entering into a lawful contract is eligible to start a business as a proprietorship. The option to create a proprietorship is available to Indian Citizens only, and Foreign Citizens are strictly not allowed to set up or operate a proprietorship firm. However, an NRI and OCI are permitted to establish proprietorship firms subject to no repatriation of their profits.

How to Register a Sole Proprietorship Firm?

Ease of formation is the most significant feature of the sole proprietorship form of business. There is no prior registration required to start a proprietorship firm. Similarly, after starting the business, no law makes it mandatory to register the sole proprietorship. No agreement, deed, or documents are to be prepared for creating a proprietorship, and the firm’s registration is also not required.

Can I later convert my Proprietorship into a Company or LLP?

Yes, the proprietorship can be converted to LLP or Private Limited Company. However, the conversion process is complicated, and unless it is not necessary due to existing contracts or IPR, we do not advise going for the conversion.